PRESS DIGEST - Wall Street Journal - May 14

May 14 (Reuters) - The following are the top stories in the
Wall Street Journal. Reuters has not verified these stories and
does not vouch for their accuracy.

* Thousands more victims of Bernard Madoff's Ponzi scheme
could receive compensation for their losses. The early findings
of a new claims process administered by the Justice Department
said the large number of claims suggests the fraud was even
bigger than previously known. (r.reuters.com/hup39v)

* Pershing Square Capital Management LP on Tuesday called
for a non-binding referendum among Allergan shareholders
on whether the company should negotiate to sell itself to
Valeant Pharmaceuticals International Inc. The move
comes a day after Allergan rejected the $46 billion
stock-and-cash offer that Valeant made last month. (r.reuters.com/sup39v)

* The Federal Reserve warned it may need to take additional
action to rein in banks' funding of corporate takeovers after
observing continued deterioration of lending standards this
year. The Fed and the Office of the Comptroller of the Currency
told banks in March 2013 to avoid funding takeover deals that
would leave companies with high levels of debt. (r.reuters.com/xup39v)